Slater Completes Debt Settlement

Vancouver, BC, July 31, 2013 – Further to its news release of July 3, 2013, Slater Mining Corporation (the “Company”) (TSX-V: SLM) announces the completion of its the previously announced debt settlement with SB Management Ltd. of Vancouver, British Columbia ("SB Management").

Pursuant to the settlement, SB Management has acquired beneficial ownership of 5,000,000 common shares (the "Shares") of the Company. The Shares were acquired from treasury at a price of $0.05 per Share in settlement of an aggregate of $250,000 of debt owed from the Company to SB Management. The Shares are subject to a hold period expiring December 1, 2013.

Following the settlement, SB Management has ownership and control over 5,000,000 common shares of the Company, representing 11.45% of the Company's issued and outstanding shares.

SB Management has acquired the Shares for investment purposes and has no present intention to, but may in the future, acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

For further information on Slater Mining please contact:

Ian Slater Chief Executive Officer +1 604 638 2545

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward- looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.